Dril-Quip Achieves Milestone With Installation Of Its First XPAK-De 18" X 22" Expandable Liner Hanger For Petrobras
Portfolio Pulse from Benzinga Newsdesk
Dril-Quip, Inc. (NYSE:DRQ) has successfully installed its first 18" x 22" XPAK-De Expandable Liner Hanger in a Santos Basin deepwater pre-salt exploratory well for the Sagitario Location, operated by Petrobras (60%) in partnership with Repsol Sinopec Brasil (20%) and Shell (20%). The technology can accelerate the well construction process, lower operating costs and reduce risks associated with deepwater drilling operations.
November 07, 2023 | 4:02 pm
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POSITIVE IMPACT
Dril-Quip's successful installation of its new technology in a Petrobras-operated well could lead to increased demand for its products, potentially boosting its revenues and stock price.
The successful installation of Dril-Quip's new technology in a well operated by Petrobras demonstrates its effectiveness and could lead to increased demand from other oil and gas companies. This could potentially boost Dril-Quip's revenues and stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Petrobras' partnership with Dril-Quip and the successful installation of the new technology could lead to cost savings and reduced risks in its deepwater drilling operations.
The successful installation of Dril-Quip's new technology in a Petrobras-operated well could lead to cost savings and reduced risks in its deepwater drilling operations. This could potentially boost Petrobras' profitability and stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60